World · Singapore Bureau
US job growth stumbles with just 29,000 positions added in September
The US labour market showed significant weakness in September, with employers adding far fewer jobs than anticipated. Figures from previous months were also revised sharply downward, raising concerns about economic momentum.
LSN Singapore ·
The United States economy added only 29,000 jobs in September, falling dramatically short of analyst expectations and signalling a marked slowdown in employment growth. The weak reading represents one of the weakest monthly job additions in recent years, painting a concerning picture for the world's largest economy.
The disappointing September figure was compounded by significant downward revisions to earlier data. Employment figures for July and August combined were revised lower by 60,000 jobs, indicating that labour market strength in those months was not as robust as initially reported.
The revised figures and September's weak showing have sparked fresh concerns among economists about the health of the US labour market and broader economic conditions. A sustained slowdown in job creation could have implications for consumer spending and overall economic growth in the coming months.
The data comes as policymakers continue to assess inflation trends and consider the appropriate path for monetary policy. Softer employment growth may influence expectations for interest rate decisions by the Federal Reserve in the period ahead.